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#Business

Intel’s PC market steadies; mobile-tablet market falters

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Intel on Tuesday announced a profit decline by 4.8 percent in Q1, amid some improvement in the PC market.

The chip maker reported revenue of $12.8 billion and net income of $1.9 billion, down 26 percent from the fourth quarter.

“In the first quarter we saw solid growth in the data center, signs of improvement in the PC business, and we shipped 5 million tablet processors, making strong progress on our goal of 40 million tablets for 2014,” Intel CEO Brian Krzanich said in a statement.

“Additionally, we demonstrated our further commitment to grow in the enterprise with a strategic technology and business collaboration with Cloudera, we introduced our second-generation LTE platform with CAT6 and other advanced features, and we shipped our first Quark products for the Internet of Things.”

Intel claimed revenues from the largest business, PC division to have dipped just one percent to $7.9 billion, as the market is stabilizing after years.

However, the phone and tablet chip business of the company has reported a quarterly operating loss of around $900 million as sales plunged 61 percent year-over-year to $156 million.

The company’s data-center business sales have rose by 11 percent to $3.1 billion, while the software and services also showed sales increase by 6 percent year-over-year to $553 million.

Intel highlighted the new Internet of Things group to be the biggest gainer reporting $482 million, down 10 percent from the Q4 2013, but up by 32 percent year-over-year.

The company forecast sales of $12.5 billion to $13 billion for the second quarter in 2014, while looking for sales to be $52.7 billion for the whole year.